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Company registration number: |
02376577
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CAT BUILDERS LIMITED
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REPORT OF THE DIRECTOR'S AND |
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 March 2017
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CAT BUILDERS LIMITED |
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BALANCE SHEET |
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AS AT 31 March 2017
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2017 |
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2016 |
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Notes |
£ |
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£ |
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£ |
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£ |
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FIXED ASSETS |
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Tangible assets |
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3 |
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393,217
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4,931
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393,217
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4,931
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CURRENT ASSETS |
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Stocks |
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251,273
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251,273
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Debtors |
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2,710
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26,326
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Cash at bank and in hand |
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631,800
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939,434
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885,783
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1,217,033
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CREDITORS |
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Amounts falling due within one year |
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(102,268) |
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(117,882) |
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NET CURRENT ASSETS |
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783,515
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1,099,151
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TOTAL ASSETS LESS |
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CURRENT LIABILITIES |
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1,176,732
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1,104,082
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NET ASSETS |
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1,176,732
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1,104,082
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CAPITAL AND RESERVES |
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Called-up equity share capital |
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4
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4
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Profit and loss account |
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1,176,728
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1,104,078
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SHAREHOLDERS FUNDS |
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1,176,732
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1,104,082
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For the year ending 31 March 2017 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of the accounts.
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All the members have consented to the preparation of abridged financial statements for the YEAR ended 31 March 2017 in accordance with Section 444(2A) of the Companies Act 2006.
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These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. Approved by the board of directors on 10 August 2017 and signed on its behalf.
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.......................................................................... |
B L Thwaites
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10 August 2017
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The annexed notes form part of these financial statements. |
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CAT BUILDERS LIMITED |
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NOTES TO THE FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2017 |
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1. |
Accounting policies |
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Basis of preparing the financial statements |
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The financial statements have been prepared under the historical cost covention in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
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Turnover |
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Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. Revenue is recognised when the goods are despatched, which is the same day on which the goods are delivered and hence is the point at which the risks and rewards of ownership pass to the buyer. Turnover in respect of service contracts is recognised when the company obtains the right to receive consideration for services provided.
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Fixed Assets |
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Tangible fixed assets are stated at cost less depreciation Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Plant and machinery 15% reducing balance basis Motor vehicles 25% reducing balance basis Office Equipment 15% reducing balance basis
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Stocks and Work In Progress |
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Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
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Pension Scheme |
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The company operates pension schemes for the benefit of all its employees. The funds of the schemes are administered by Trustees and are separate from the company. Independent actuaries complete valuations at least every three years and, in accordance with their recommendations annual contributions are paid to the schemes so as to the benefits set out in the rules and the periodic augmentation of current pensions. The cost of these and any variations from regular cost from actuarial valuations are charged or credited to profits on a basis over the remaining service life of the employees.
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2. |
Employees |
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The average number of persons employed by the company (including directors during the year was 3 (2016 : 3).
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3. |
Tangible fixed assets |
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Total |
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Cost |
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At start of period |
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37,708
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Additions |
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389,347
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At end of period |
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427,055
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Depreciation |
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At start of period |
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32,777
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Provided during the period |
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14,851
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At end of period |
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47,628
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Net Book Value |
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At start of period |
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4,931
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At end of period |
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393,217
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4.
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Related Party Transactions |
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During the year dividends were paid to the shareholders totalling £20,000.
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